Business Planning for Mortgage Industry Professionals

Competing In A Market Slowdown
To Succeed in 2006, loan officers are going to have to get back to basics
by Steve Probst

Many loan officers are always alittle nervous about the year to come. Will business be as vibrant as it was last year? I believe these concerns have more validity this year than we have seen in the past few years. Let's face it we are in a rising interest rate market....more

Planning Plus Activity Equals Success!
- by Steve Probst
Originator Times, a BEXT Inc. publication, January 03, 2006

As I speak with Mortgage Originators around the country, it always confuses me at how few build and work from a business plan. Many of you know already that most top producing originators work from business plans.

Planning is a foundational discipline that is necessary for the success of any business, large or small. Investing the time in writing a good business plan, in many cases, will be the difference between success and failure. Business planning forecasts results and creates the road maps for the results to happen... more

2006 Prepare Yourself for War!
By Steve Probst

The competition is going to heat up during 2006. Loan Officers will be out in full force trying to compete for deals and more importantly, relationships! You know, your relationships! The ones you thought you owned beyond a doubt. When the competition heats up all bets are off as to who will win the relationship! The competition will fight dirty and prove to be unfair.

You don’t want to compete you want to dominate! The way Microsoft does in the computer software business! In order to dominate let’s take some lessons from true warriors, the men and women who serve in our armed forces and go to battle everyday. The stakes are a lot higher in their battles... more

Managing For More Origination Volume!

In light of the current mortgage origination environment it has become crucial that Sales Managers take a more hands on day to day approach to managing their sales force. They must have a detailed plan to lead and manage their teams to success.

Over the last few years most mortgage originators were successful not necessarily because of hard work, great ideas, or an excellent plan. The incredible production happened because of the shear velocity of the market. That market environment shifted managements focus from how to get more origination volume in the front door, to how do we get this insane volume out the back door closed and sold to the secondary markets. We had to accomplish closing ridiculous numbers of loans while at the same time trying to keep customer service levels at a satisfactory degree of disappointment to the consumer. We trained the public to except bad service and pay high fees because it wasn’t our fault every person in America decided to refinance. The mortgage industry infrastructure was designed to close less the one trillion dollars in total mortgage volume and we were closing close to three trillion dollars of refinance and purchase mortgages!

Due to the change in today’s market, notably contraction, management now has to shift its focus again back to figuring out how to get more customers in the front door. It now becomes more crucial to make sure we develop and cultivate a stronger relationship with our consumer until we can close their next transaction...more

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BUY NOW using our secure server	Competing In A Market Slowdown To Succeed in 2006, loan officers are going to have to get back to basics by Steve Probst Many loan officers are always alittle nervous about the year to come. Will business be as vibrant as it was last year? I believe these concerns have more validity this year than we have seen in the past few years. Let's face it we are in a rising interest rate market....more Planning Plus Activity Equals Success! - by Steve Probst Originator Times, a BEXT Inc. publication, January 03, 2006 As I speak with Mortgage Originators around the country, it always confuses me at how few build and work from a business plan. Many of you know already that most top producing originators work from business plans. Planning is a foundational discipline that is necessary for the success of any business, large or small. Investing the time in writing a good business plan, in many cases, will be the difference between success and failure. Business planning forecasts results and creates the road maps for the results to happen... more 2006 Prepare Yourself for War! By Steve Probst The competition is going to heat up during 2006. Loan Officers will be out in full force trying to compete for deals and more importantly, relationships! You know, your relationships! The ones you thought you owned beyond a doubt. When the competition heats up all bets are off as to who will win the relationship! The competition will fight dirty and prove to be unfair. You don’t want to compete you want to dominate! The way Microsoft does in the computer software business! In order to dominate let’s take some lessons from true warriors, the men and women who serve in our armed forces and go to battle everyday. The stakes are a lot higher in their battles... more Managing For More Origination Volume! In light of the current mortgage origination environment it has become crucial that Sales Managers take a more hands on day to day approach to managing their sales force. They must have a detailed plan to lead and manage their teams to success. Over the last few years most mortgage originators were successful not necessarily because of hard work, great ideas, or an excellent plan. The incredible production happened because of the shear velocity of the market. That market environment shifted managements focus from how to get more origination volume in the front door, to how do we get this insane volume out the back door closed and sold to the secondary markets. We had to accomplish closing ridiculous numbers of loans while at the same time trying to keep customer service levels at a satisfactory degree of disappointment to the consumer. We trained the public to except bad service and pay high fees because it wasn’t our fault every person in America decided to refinance. The mortgage industry infrastructure was designed to close less the one trillion dollars in total mortgage volume and we were closing close to three trillion dollars of refinance and purchase mortgages! Due to the change in today’s market, notably contraction, management now has to shift its focus again back to figuring out how to get more customers in the front door. It now becomes more crucial to make sure we develop and cultivate a stronger relationship with our consumer until we can close their next transaction...more
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